China’s central government has called for “unrelenting” implementation of its economic policies and reform measures

Monday sees the publication of Germany's PPI figure and the monthly report from Germany's Bundesbank. Inflation is expected to come in at 0.1% month on month. In the USA another member of the Fed will hold court with the focus moving from the debt ceiling issue to the other issues affecting the USA economy, such as the throttling of monetary easing by way of tapering. Existing home sales in the USA are expected to come in at 5.31 million from the previous month's 5.48 million. Canada's wholesale sales are anticipated to print at 0.6%. USA crude oil inventory figures are suggested to fall to 3.4 million barrels from 6.8 million barrels the previous month. More arrivals from China contributed to a 7 percent increase in visitors to New Zealand in September 2013, compared with September 2012, Statistics New Zealand said today. "The 21,200 visitors from China was well up from 14,000 last September," population statistics manager Andrea Blackburn said. "This continues the strong growth in visitor numbers which we have seen from the world's most populous country in recent years." In the September 2013 year, visitor arrivals rose 3 percent to reach 2.670 million.http://blog.fxcc.com/market-analysis

Upwards scenario: On the upside fractal level at 1.6225 (R1) prevents further gains. Successful clearance here would suggest next intraday targets at 1.6248 (R2) and 1.6269 (R3). Downwards scenario: On the other hand, current range pattern on the hourly chart suggest possible retest of our supportive measure at 1.6148 (S1). Break here is required to open way towards to initial targets at 1.6125 (S2) and 1.6102 (S3).

Upwards scenario: Resistance at 98.16 (R1) limits possible upwards penetration. Break here is required to enable next interim target at 98.31 (R2) en route towards to final aim for today at 98.46 (R3). Downwards scenario: On the other hand, successful retest of our support level at 97.74 (S1) would clear the way for a downtrend expansion towards to our lower targets at 97.59 (S2) and 97.43 (S3) in potential